What Happened:
Shares of customer experience software provider Sprinklr (NYSE:CXM) jumped 7.04% in the morning session after the company reported first quarter results that beat analysts' estimates for revenue (both total revenue and subscription revenue) and non-GAAP operating profit. There was also a strong acceleration in contract wins. Looking ahead, revenue and non-GAAP operating income guidance for the next quarter and the full year came in roughly in line with Consensus. Overall, it was a solid quarter for the company, with management also touching on its AI capabilities.
What is the market telling us:
Sprinklr's shares are very volatile and over the last year have had 21 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Sprinklr is up 78.4% since the beginning of the year. Investors who bought $1,000 worth of Sprinklr's shares at the IPO in June 2021 would now be looking at an investment worth $818.18.
Is now the time to buy Sprinklr? Access our full analysis of the earnings results here, it's free.